Prospects for Tax Reform Unclear After Baucus Annonces Retirement

Prospects for Tax Reform Unclear After Baucus Annonces Retirement

The April 23 announcement by Senate Finance Committee Chair Max Baucus, D-Mont., that he will not seek reelection in 2014 shocked senators, staff, and lobbyists and left them wondering how the prospects of passing a tax reform bill before the end of 2014 would be affected.
 
Most taxwriters and tax observers said Baucus's decision to retire will reduce political pressures and enhance the 71-year-old senator's commitment to tax reform, but some suggested the time constraints Baucus has created for himself will reduce the chances for a successful overhaul of the code.

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